Luxury sales are rebounding strongly as the world returns to normal and Covid-19 restrictions have been lifted in leading markets.
LVMH, the world’s largest luxury goods group, has posted revenues of 18 billion euros (AU$26.3 billion) for its Q1 2022 – an upsurge of 29 per cent over the same quarter in 2021.
LVMH owns 15 major luxury beauty and fragrance brands, including Parfums Christian Dior, Guerlain, Givenchy, Maison Francis Kurkdjian, Benefit Cosmetics, Make Up For Ever, Fresh, Acqua di Parma, Kenzo Parfums, KVD Beauty, Marc Jacobs Beauty and Fenty Beauty by Rihanna.
The division performed strongly in the first quarter with organic sales soaring 17 per cent to 1.905 billion euros (AU$2.78 billion) by contrast to the same period in 2021. Strong growth in the US and an uptick in sales from Dior, Guerlain, Givenchy and Maison Francis Kurkdjian boosted the overall results.
LVMH’s Selective Retailing division includes Sephora, the world’s largest specialty beauty chain. Total sales jumped 30 per cent in the first quarter to 3.04 billion euros (AU$4.44 billion).
Fashion & Leather Goods form the biggest division of LVMH, accounting for half its total sales. Revenues rose 35 per cent in Q1 to 9.123 billion euros (AU$13.32 billion), fast-tracked by the “remarkable performance” of Louis Vuitton, Christian Dior, Celine and Marc Jacobs.